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President Macron: 'We are making France a country at the forefront of AI'

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Alan Co-founder and CEO Jean-Charles Samuelian-Werve (left) and French President Emmanuel Macron (right) | LinkedIn/jcsamuelian, X/EmmanuelMacron

French President Emmanuel Macron has declared that through its investments, France is evolving into "a country at the forefront of AI." He shared this statement in a post on March 13.

"Mistral, LightOn, Shift Technology, Alan, Bioptimus, Google: more and more of them are choosing France to innovate in artificial intelligence," said Macron, according to X. "By investing, we are making France a country at the forefront of AI."

Jean-Charles Samuelian-Werve, co-founder and CEO of Alan, an AI healthcare solution provider, and a board member of Mistral AI, expressed his gratitude towards Macron for his support of the AI industry. In a post on X, he said: "Let's make France the leader in AI in all sectors. Thank you @EmmanuelMacron for your support of this ecosystem and innovation."

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According to Euractiv, Macron announced more than 7 billion euros worth of investments into France's AI industry and green technologies in June. This move aims to keep France competitive with China and the U.S. The investments include 40 million euros to bolster generative AI development and 500 million euros to establish at least five AI "clusters." Macron underscored the significance of attracting talent to France to foster the growth of new technologies.

During the 2021 VivaTech conference in Paris, Macron set a goal to boost the number of French tech "unicorns," or startups valued over $1 billion, from 27 to at least 100 by 2030. Reuters reported him saying: "What target am I fixing for us? To try to develop 10 tech giants in Europe, in the coming five years, and to increase the number of our unicorns to at least 100 by 2030, which is feasible."

Ken Timsit, managing director of blockchain company Cronos Labs, wrote an opinion piece for CoinDesk stating that as of March 2023, the number of tech "unicorns" in France had increased to 32. He mentioned that funding for emerging technology sectors such as Web3 and crypto was robust in France. Since 2017, blockchain projects have raised at least $1.3 billion. Timsit further stated that the Web3 industry has received support from government agencies, with France’s Ministry of Culture allocating $150 million to promote "French cultural sovereignty" in digital environments. He also noted an influx of Web3 innovators migrating to France from jurisdictions less receptive to digital assets.

According to Britannica, Macron was elected president of France in 2017 and reelected in 2022. Prior to his presidency, he worked in the private financial sector at Rothschild & Cie Banque and served as France's Finance Minister in the public sector.

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Nov 22, 2024

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

The UK government is set to introduce new cryptocurrency regulations aimed at countering the growing appeal of the United States as a destination for crypto businesses. In response to concerns of regulatory delays following Brexit, the legislation focuses on establishing a clearer framework for stablecoins and staking activities, with the goal of strengthening the UK’s position as a global hub for digital assets.

Nov 22, 2024

OpenAI chooses Paris as its new home base

OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.

Nov 20, 2024

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

On October 30, UK Chancellor Rachel Reeves announced a capital gains tax (CGT) rate increase for high-income individuals, raising it to 24%. This change has raised concerns in the cryptocurrency community, where some investors fear that increased tax and regulatory pressures will diminish the UK's appeal for digital asset investment.

Nov 20, 2024

UK’s digital assets bill brings much-needed clarity to digital asset regulation

On November 6, the UK government issued an updated version of the Property (Digital Assets Etc.) Bill, clarifying its approach to defining digital assets, including crypto tokens, as recognized property under English law. The update aims to provide greater security and clarity for individuals and businesses engaging with digital assets.

Nov 20, 2024

Outlier Ventures CCO: People may use a 'more efficient, much less costly system to achieve the same user benefit'

Matt Law, Chief Commercial Officer at Outlier Ventures, said that it would not "surprise" him if many people embrace "more efficient," cost-effective systems like tokenization to gain the "same user benefit."

Nov 16, 2024

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